Danaos Corporation - DAC STOCK NEWS

Danaos Corporation (NYSE: DAC) announced new charter agreements for 10 vessels, boosting its revenue backlog by approximately $378 million, an increase of 21.5% compared to $1.75 billion as of June 30, 2021. The charters, ranging from 3 to 4 years, enhance contracted EBITDA by around $280 million. CEO Dr. John Coustas highlighted that the company has secured 100% charter coverage for 2021 and 89% for 2022, citing improved earnings and cash flow visibility. Danaos remains focused on maximizing profitability and shareholder value.

Danaos Corporation (NYSE: DAC) reported significant financial growth for Q2 and the first half of 2021. Adjusted net income surged to $68.9 million ($3.34/share), up 62.1% YoY, while operating revenues rose 25.3% to $146.4 million. For H1 2021, adjusted net income increased 67.4% to $126.9 million ($6.17/share), with total contracted operating revenues reaching $1.75 billion. The company declared a dividend of $0.50 per share, payable August 30, 2021, while enhancing liquidity through bond redemptions and asset sales. Danaos remains optimistic about future growth opportunities amid a strong containership market.

Danaos Corporation (NYSE: DAC), a leading independent owner of containerships, will announce its second-quarter results for the period ending June 30, 2021, on August 2, 2021, after market closure. A conference call discussing these results is scheduled for August 3, 2021, at 9:00 A.M. ET. Interested participants can join via U.S., U.K., or international dial-in numbers. The call will also be available via a live audio webcast on the company's website, with a replay accessible until August 10, 2021. Danaos operates a fleet of 65 containerships with a total capacity of 403,793 TEUs.

Danaos Corporation (NYSE: DAC) has announced the acquisition of six 5,466 TEU container vessels for $260 million, set to enhance its contracted revenue by approximately $71 million and EBITDA by $39 million. The vessels, averaging 6.8 years old, come with a charter duration of about 2 years. This deal, funded by cash on hand, positions Danaos to leverage its strong balance sheet for growth, with the acquisition expected to be immediately accretive. The eco-designed vessels will be delivered by Q3 2021, promising improved efficiency compared to traditional models.

Danaos Corporation (NYSE: DAC) has announced the exercise of its option to acquire the remaining 51% equity in Gemini Shipholdings Corporation for $86.7 million. The net cash outflow will amount to approximately $72.3 million after accounting for Gemini's cash balance. Gemini's fleet consists of five containerships with a total capacity of 32,531 TEU, all under time charters for the next 12 months. The acquisition is expected to boost Danaos' contracted revenue by $160 million and EBITDA by $117 million, further consolidating its position as a leading containership owner.

Danaos Corporation (NYSE: DAC) has approved a dividend reinvestment plan allowing shareholders to purchase additional shares using cash dividends. Participation is optional and those opting out will still receive cash dividends. The plan offers a discount of up to 3% from market price for purchases made directly from Danaos. Enrollment materials will be sent to stockholders, and they must submit forms to the Administrator by May 27, 2021, for the dividend declared on May 10, 2021. Further details can be found in the plan's prospectus on the SEC's website.

Danaos reported impressive first-quarter results for 2021, with adjusted net income soaring to $58.0 million ($2.83 per share), up 74.2% from $33.3 million ($1.34 per share) a year prior. Operating revenues increased 24.4% to $132.1 million. Adjusted EBITDA rose by 33.9% to $96.3 million. The company has established a quarterly dividend of $0.50 per share, payable on June 9, 2021. With 91% charter coverage for the next 12 months and total contracted revenues of $1.2 billion, Danaos is positioned for continued growth.

Danaos Corporation (NYSE: DAC) announced it will release its first-quarter results for the period ending March 31, 2021, after market close on May 10, 2021. A conference call to discuss the results will be held on May 11, 2021, at 9:00 A.M. ET. Participants can join the call by dialing in 10 minutes prior to the start time. A telephonic replay will be available until May 18, 2021, and an audio webcast will be accessible on the company's website.

Danaos operates a fleet of 65 containerships with a total capacity of 406,586 TEUs, positioning itself as a major player in the industry.

Danaos Corporation (NYSE: DAC) has successfully completed a $1.25 billion refinancing of its senior secured debt. The refinancing includes an $815 million credit facility, a $135 million sale leaseback agreement for five vessels, and proceeds from a $300 million bond offering. This restructuring streamlines the capital structure, extending debt maturities until at least 2025 and improving cash flow generation. CEO Dr. John Coustas emphasized that this achievement marks a new era for the company and enhances its ability to pursue growth strategies.